Wednesday, 9 May 2012

Sabah expected to receive investment of more than RM1b from American company

KOTA KINABALU (May 9): Sabah is expected to receive an investment of more than RM1 billion from US-based company Dole, in the food and fruits industry.

Sabah Chief Minister Datuk Seri Musa Aman said further discussions are still being held to determine the best method of collaboration with one of the state government agencies.

"They, a major company in the food and fruits industry, have expressed deep interest in a collaboration. We are now seeking a suitable location while determining the form of collaboration with one of the state government agencies," he told reporters after officiating at the Putatan Agricultural Expo here on Wednesday.

Musa said foreign companies were keen to invest in Sabah as it was known as a peaceful state and suitable for investing, compared to some other places.

He also said Sabah had an opportunity to be among the key food producing states based on the cooperation among all parties in this district to drive the agricultural and agro-based industry sector.

"Agricultural expos such as this should be expanded to the other districts throughout the state, so that the potential of the sector can be fully harnessed," he added.

Musa said various and up-to-date information, as well as research findings could be applied through the expo and at the same time, ensure that the sector remains one that contributes to the enhancement of the economy in future.

He said under the five years of the Ninth Malaysia Plan, Sabah's economy had expanded at the rate of 5% annually, with the agricultural sector contributing RM7.24 billion to the 2010 gross domestic product compared to RM3.8 billion in 2005. — Bernama